Technically Speaking, November 2011

LETTER FROM THE EDITOR

Our Ethics Corner feature has generated some feedback, and this month we are revisiting the first case study we presented. As expected, there is room for differences of opinion on ethics questions.

In part, the growth of international membership in the MTA should guarantee some discussion on ethics. Laws differ among countries and cultural differences are greater than many assume. Perhaps the only undeniable truth in ethics is that people are not all alike. Different people hold different opinions, which is the underlying reason we have a market to trade.

While cultural differences must be considered in any situation, the Standards defined in the MTA Code of Ethics are mandatory for all members and affiliates. While there may be a less strict requirement defined in local laws at times, the Code of Ethics requires that the stricter rules of the Code must be the guide. Obviously if the law is stricter than the Code of Ethics, the Code does not offer an excuse for breaking the law.

We look forward to continuing discussions on ethics. It is important to our profession to hear as many opinions as possible. By understanding why some scenarios present “grey zones” we can make professional ethics stronger. Please send any comments to editor@mta.org.

Sincerely,
Mike Carr, CMT

What's Inside...

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These essays discuss discrepancies in modern portfolio theory (MPT) that can be resolved by technical analysis.

In portfolio theory, asset classes’ correlations with other asset classes, their standard deviation of returns, and their expected returns are the only inputs needed to create a “global market portfolio,” which can be defined as the an optimal portfolio, whose cumulative weightings of all asset classes maximize the...

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

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George Rahal

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Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

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George A. Schade, Jr., CMT

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Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

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Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

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To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

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Dave Landry

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Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

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A reader offered the following rebuttal:

To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

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Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

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To view this content you must be an active member of the CMT Association.

Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)